Gold Prices Plunge Amid Inflation, Interest Rate Fears, and Geopolitical Tensions

Gold is under intense selling pressure this week, marking its sharpest drop in years. Rising inflation concerns, expectations of prolonged high interest rates, and a stronger U.S. dollar are outweighing safe-haven demand. The US-Israel-Iran conflict has pushed oil above $100, fueling energy-driven inflation fears.

Technically, gold has fallen below its middle Bollinger Band (20 SMA), signaling loss of bullish momentum. Immediate resistance is around Rs 142,000-145,000, with stronger resistance at Rs 150,000. Key support lies near Rs 136,000, a break below could see prices slide to Rs 130,000-128,000. Volume trends confirm strong selling, suggesting a sell-on-rise strategy unless gold recovers above Rs 145,000 quickly.

Investors should watch global PMI reports and central bank actions, as these could influence short-term gold movement.

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